Rhumbline Advisers Purchases 28,179 Shares of GrafTech International Ltd. (NYSE:EAF)

Rhumbline Advisers increased its position in shares of GrafTech International Ltd. (NYSE:EAF) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 323,504 shares of the company’s stock after acquiring an additional 28,179 shares during the quarter. Rhumbline Advisers’ holdings in GrafTech International were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EAF. Clear Harbor Asset Management LLC lifted its stake in GrafTech International by 60.8% in the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock valued at $843,000 after buying an additional 328,565 shares in the last quarter. O Keefe Stevens Advisory Inc. lifted its stake in GrafTech International by 9.6% in the second quarter. O Keefe Stevens Advisory Inc. now owns 1,808,368 shares of the company’s stock valued at $1,754,000 after buying an additional 157,776 shares in the last quarter. Foundation Resource Management Inc. lifted its stake in GrafTech International by 2.5% in the second quarter. Foundation Resource Management Inc. now owns 1,849,343 shares of the company’s stock valued at $1,794,000 after buying an additional 45,859 shares in the last quarter. Invenomic Capital Management LP lifted its stake in GrafTech International by 89.4% in the first quarter. Invenomic Capital Management LP now owns 1,456,417 shares of the company’s stock valued at $2,010,000 after buying an additional 687,595 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in GrafTech International in the first quarter valued at approximately $76,000. Institutional investors own 92.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EAF shares. JPMorgan Chase & Co. lowered shares of GrafTech International from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets lowered their price objective on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1.75.

GrafTech International Price Performance

NYSE EAF opened at $1.14 on Friday. The company has a quick ratio of 2.01, a current ratio of 4.22 and a debt-to-equity ratio of 57.38. GrafTech International Ltd. has a 12-month low of $0.52 and a 12-month high of $3.89. The company has a market capitalization of $293.17 million, a PE ratio of -1.05 and a beta of 0.94. The firm’s 50 day moving average is $0.76 and its 200-day moving average is $1.22.

GrafTech International (NYSE:EAF) last issued its earnings results on Friday, July 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $137.33 million for the quarter, compared to the consensus estimate of $122.48 million. GrafTech International had a negative net margin of 50.11% and a negative return on equity of 121.77%. Equities research analysts anticipate that GrafTech International Ltd. will post -0.43 earnings per share for the current fiscal year.

GrafTech International Company Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.